Suncore made this move via its U.S. subsidiary Suncore Photovoltaics Inc (SPI). Suncore will acquire all assets of ZenithSolar which include the intellectual property, inventory and equipment of the company. ZenithSolar has developed the combined heat and power (CHP) Z20 for example which generates both electricity and thermal energy via two 11 square meter semi-parabolic optical mirror collectors.
With the takeover, Suncore's plan now is to set up a production line and start the mass production of the CHP product in Huainan city, Anhui province, China, where the company headquarters is situated.
"The potential of this technology to provide a low-cost source of renewable energy is significant," Charlie Wang, vice chairman of Suncore and CEO of SPI said to the media. "The CHP technology developed by ZenithSolar is an excellent complement to Suncores CPV product portfolio," he added.
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